Zacks: Analysts Expect Opko Health Inc. (OPK) Will Announce Quarterly Sales of $307.44 Million

Wall Street analysts expect Opko Health Inc. (NASDAQ:OPK) to report sales of $307.44 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Opko Health’s earnings. The highest sales estimate is $325.20 million and the lowest is $296.51 million. Opko Health reported sales of $275.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The firm is expected to report its next earnings results on Wednesday, March 7th.

On average, analysts expect that Opko Health will report full year sales of $307.44 million for the current fiscal year, with estimates ranging from $1.17 billion to $1.20 billion. For the next year, analysts anticipate that the firm will report sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Opko Health.

Several brokerages have issued reports on OPK. Zacks Investment Research downgraded shares of Opko Health from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. BidaskClub downgraded shares of Opko Health from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Finally, Cantor Fitzgerald set a $20.00 target price on shares of Opko Health and gave the company a “buy” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $13.34.

Shares of Opko Health (NASDAQ OPK) traded down $0.11 during trading hours on Friday, reaching $3.85. 2,463,500 shares of the company’s stock traded hands, compared to its average volume of 4,748,437. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.48 and a current ratio of 1.66. Opko Health has a 52 week low of $3.61 and a 52 week high of $8.92. The firm has a market cap of $2,150.00, a P/E ratio of -20.26 and a beta of 1.42.

In related news, CEO Phillip Md Et Al Frost purchased 185,000 shares of the stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $3.83 per share, for a total transaction of $708,550.00. Following the acquisition, the chief executive officer now directly owns 3,068,951 shares in the company, valued at approximately $11,754,082.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 688,000 shares of company stock worth $2,970,260. 40.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Opko Health by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 53,788 shares of the biotechnology company’s stock worth $354,000 after purchasing an additional 896 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Opko Health by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 22,535 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 1,657 shares in the last quarter. Royal Bank of Canada boosted its holdings in Opko Health by 3.3% in the second quarter. Royal Bank of Canada now owns 118,749 shares of the biotechnology company’s stock worth $781,000 after purchasing an additional 3,739 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in Opko Health by 28.5% in the third quarter. Eqis Capital Management Inc. now owns 51,135 shares of the biotechnology company’s stock worth $351,000 after purchasing an additional 11,354 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its holdings in Opko Health by 2.0% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 607,102 shares of the biotechnology company’s stock worth $2,975,000 after purchasing an additional 11,720 shares in the last quarter. Institutional investors and hedge funds own 22.22% of the company’s stock.

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About Opko Health

OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.

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